Guillaume Kurkdjian Water Material
Here is a try:



Analysis:

According to the source artwork, there may be some shaders used. However, the key parts can be: Glass/Refraction, Translucent, Glossy, etc.

So after a few trial and errors, a possible setup might be:



Besides, post processing like compositing can also be included:



To model the water shape, here is one way:


Example file: